REE Automotive Ltd. (NASDAQ:REE – Get Free Report) shares traded up 0.2% during mid-day trading on Friday . The company traded as high as $4.04 and last traded at $3.92. 3,842 shares changed hands during trading, a decline of 89% from the average session volume of 36,355 shares. The stock had previously closed at $3.91.
Analyst Upgrades and Downgrades
REE has been the subject of a number of research analyst reports. Roth Capital raised REE Automotive to a “strong-buy” rating in a research report on Friday, May 17th. Roth Mkm initiated coverage on REE Automotive in a research report on Friday, May 17th. They set a “buy” rating and a $14.00 target price for the company. Finally, HC Wainwright reaffirmed a “buy” rating and set a $15.00 target price on shares of REE Automotive in a research report on Friday, May 31st.
Read Our Latest Analysis on REE Automotive
REE Automotive Trading Up 0.2 %
REE Automotive (NASDAQ:REE – Get Free Report) last posted its quarterly earnings results on Thursday, May 30th. The company reported ($1.96) earnings per share for the quarter, missing the consensus estimate of ($1.81) by ($0.15). REE Automotive had a negative net margin of 6,265.21% and a negative return on equity of 110.59%. The firm had revenue of $0.16 million for the quarter, compared to analysts’ expectations of $0.40 million. Analysts expect that REE Automotive Ltd. will post -7.63 EPS for the current fiscal year.
Institutional Trading of REE Automotive
An institutional investor recently bought a new position in REE Automotive stock. M&G Plc purchased a new position in REE Automotive Ltd. (NASDAQ:REE – Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,747,014 shares of the company’s stock, valued at approximately $10,482,000. M&G Plc owned 16.62% of REE Automotive at the end of the most recent quarter. 12.74% of the stock is currently owned by institutional investors.
REE Automotive Company Profile
REE Automotive Ltd. operates as an automotive technology company in France, the United Kingdom, the United States, and internationally. The company offers REEcorner, a compact module that integrates critical vehicle drive components comprising as steering, braking, suspension, powertrain, and control between the chassis and the wheel; and REEplatform that allows for the addition of a modular and customizable top hat/cabin design based on customer specifications, without requiring modification to the platform.
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